WOW. That was fast.Like we need to give lawyers more work -
NEW YORK, Aug 27, 2008 (GlobeNewswire via COMTEX) -- "Levi & Korsinsky announces an investigation on the proposed acquisition of IKON Office Solutions...Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. "
LOL!
Sometimes, you don't need to hear a siren to know that somebody will be chasing ambulances.
Wednesday, August 27, 2008
Steel Group Rumored to Have "Forced" IKON Sale
From an article at Philly.com:
"...This is all driven by Steel Partners. They're one of the most aggressive hedge funds in the world, with $9 billion in assets under management," said Park. "They've been really public, and this is no real surprise," he added. "They're the largest shareholder. They own about 10 percent at a cost of about $10.51." Steel pushed Ikon last year to buy back shares at $17.50; Ikon balked, paying up to $15 in a limited buyback that boosted the company's debt."
And off of the author's blog -
"As of June 30, 2008, Steel owned 12,456,300 shares at an average cost of $10.51/share.
Assuming the deal goes through, Steel will realize a hefty $84M gain on their four year investment.
Steel began pressuring IKN in June 2007 to do a $850M share buyback at $17.50/share. After Steel announced their intention to obtain board representation, IKN announced (in November 2007) a $500M buyback - which included a $295M dutch auction between $13 and $15/share and the balance to be purchased on the open market over the next year or so. As a result, Steel signed a standstill agreement and agreed not to seek board representation through 2009..."
My previous post on Steele:
IKON and Steel Partners - How IKON Will Be Sold
IKON, Ricoh - with the possibility of ANOTHER BIDDER?
there is an "undertone" out there - is there another bidder willing to go after IKON?
From Dividends.com, "...This acquisition continues a trend we have been seeing, in which office equipment makers have been acquiring distributors to strengthen their sales channels and product offerings. Ikon has 400 sales and services mainly in Europe and the U.S. Ricoh had recently acquired the European operations of copier service and supply company Danka Business Systems.
This is a solid offer in place, but we have added the shares of Ikon Office Solutions to our recommended list, as the possibility of another bidder jumping into the fray is a possibility. The company has a dividend yield of 1.03%, based on Tuesday's closing stock price of $15.56..."
In addition to this being the biggest move in the industry - ever - it could get even more delicious.
From Dividends.com, "...This acquisition continues a trend we have been seeing, in which office equipment makers have been acquiring distributors to strengthen their sales channels and product offerings. Ikon has 400 sales and services mainly in Europe and the U.S. Ricoh had recently acquired the European operations of copier service and supply company Danka Business Systems.
This is a solid offer in place, but we have added the shares of Ikon Office Solutions to our recommended list, as the possibility of another bidder jumping into the fray is a possibility. The company has a dividend yield of 1.03%, based on Tuesday's closing stock price of $15.56..."
In addition to this being the biggest move in the industry - ever - it could get even more delicious.
Words From IKON's Espe - Internal IKON Memo
Memo to the crew, from Espe...
"Today we announced the exciting news that IKON is to be acquired by Ricoh Company, Ltd., subject to the satisfaction of customary closing conditions. A copy of the press release we issued is attached for your information. As you know, Ricoh has been one of our valued equipment partners for many years and we are thrilled that we will now be joining forces with them to create a stronger global office solutions competitor.
Let me explain why we chose to take this important step. As our Board and management looked at the future of our company, we focused on how going forward we could best meet our customers’ needs, deliver value to our shareholders and create opportunities for our employees. We decided that, like many of our competitors, we would be better able to achieve these goals as part of a larger organization that was able to offer a full range of end-to-end office solutions and services to more customers across the globe.
We believe that as part of a combined company in the highly competitive and evolving office equipment industry, we can leverage our sales, service and marketing depth with Ricoh’s engineering and manufacturing expertise to better understand and more rapidly respond to the needs of our customers. In addition, we anticipate that this transaction will create new opportunities for our employees, as you will be working for a larger organization with enhanced growth prospects.
The unmatched expertise and strong skills of IKON’s people were a significant reason why Ricoh wanted to acquire IKON and they are very much looking forward to working with our team.
Following the completion of the transaction, Ricoh intends to operate IKON as an independent subsidiary and has no immediate plans to merge or consolidate the organizations or to make any changes as a result of this transaction. Of course, we will remain committed to serving all our customers and we have every intention of continuing to provide them with world-class service and support, regardless of the equipment they use.
While we are very excited about today’s news, it is important for you to know that it will take several months to complete this transaction. In the meantime, it will be business as usual for us. We anticipate that the transaction will close before the end of calendar year 2008. From now until then, it is critical that we all stay focused on selling, servicing and meeting the needs of our customers, and achieving our objectives to finish the fiscal year strong...
...I’d like to end by thanking you for your continued hard work and dedication to IKON. It is your contributions that have made our company an attractive partner for Ricoh and I am confident that if we all can continue to focus on what we do best, we will all have a very bright future to look forward to as part of the new Ricoh.
Matt"
Here is the Press Release.
"Today we announced the exciting news that IKON is to be acquired by Ricoh Company, Ltd., subject to the satisfaction of customary closing conditions. A copy of the press release we issued is attached for your information. As you know, Ricoh has been one of our valued equipment partners for many years and we are thrilled that we will now be joining forces with them to create a stronger global office solutions competitor.
Let me explain why we chose to take this important step. As our Board and management looked at the future of our company, we focused on how going forward we could best meet our customers’ needs, deliver value to our shareholders and create opportunities for our employees. We decided that, like many of our competitors, we would be better able to achieve these goals as part of a larger organization that was able to offer a full range of end-to-end office solutions and services to more customers across the globe.
We believe that as part of a combined company in the highly competitive and evolving office equipment industry, we can leverage our sales, service and marketing depth with Ricoh’s engineering and manufacturing expertise to better understand and more rapidly respond to the needs of our customers. In addition, we anticipate that this transaction will create new opportunities for our employees, as you will be working for a larger organization with enhanced growth prospects.
The unmatched expertise and strong skills of IKON’s people were a significant reason why Ricoh wanted to acquire IKON and they are very much looking forward to working with our team.
Following the completion of the transaction, Ricoh intends to operate IKON as an independent subsidiary and has no immediate plans to merge or consolidate the organizations or to make any changes as a result of this transaction. Of course, we will remain committed to serving all our customers and we have every intention of continuing to provide them with world-class service and support, regardless of the equipment they use.
While we are very excited about today’s news, it is important for you to know that it will take several months to complete this transaction. In the meantime, it will be business as usual for us. We anticipate that the transaction will close before the end of calendar year 2008. From now until then, it is critical that we all stay focused on selling, servicing and meeting the needs of our customers, and achieving our objectives to finish the fiscal year strong...
...I’d like to end by thanking you for your continued hard work and dedication to IKON. It is your contributions that have made our company an attractive partner for Ricoh and I am confident that if we all can continue to focus on what we do best, we will all have a very bright future to look forward to as part of the new Ricoh.
Matt"
Here is the Press Release.
The Death of the Copier Dealer - Rise of the "Hybrid"
The Death of The Copier Sales Person
The Death of The Copier Dealer
Break Into Pharmaceutical Sales By Selling Copiers?
A Return to Selling
Ricoh to Buy IKON - Shot Heard Around the World
The other shoe has dropped.
In an announcement today, Ricoh stated that they have "reached a diffenative statement to purchase IKON through it's wholly owned U.S. distribution subsidiary, Ricoh Americas Corporation."
"IKON has terrific strength in areas that complement RICOH's growth strategy," said Shiro Kondo, President and CEO of Ricoh Company, Ltd. "IKON has advanced Professional Services capabilities with a long list of satisfied large customers. IKON is respected as well for its production print sales and service expertise. We are excited to add the very experienced IKON management team and the thousands of skilled and dedicated IKON employees to the RICOH family."
IKON Chairman and Chief Executive Officer, Matthew J. Espe, said, "Following an extensive review of our strategic opportunities, our Board conducted a formal process to evaluate alternatives for the Company, and has approved this attractive transaction for our shareholders, customers and employees. The offer represents a 33% premium over IKON's trailing 60-day average stock price as of market close on August 26th. In addition, combining with RICOH, one of the world's most respected and innovative companies, will enable us to strengthen our offerings to customers and create new opportunities for our employees."
Espe concluded, "We remain fully committed to providing the highest quality of support and service to all our customers."
WOW! This is BIG.
33% premium? Try $1.6 billion! That's it. Was it a fire sale?
A missed opportunity for HP. A bargain price for huge channel for copiers and printers - 14 billion they spend on EDS.
So now, one question answered and oh so many more are asked.
What about ALL of the IKON Canon customers? Will it be a feeding frenzy as competitors start picking away at Canon, Kyocera and Konica Minolta installs?
My oh my...
more to follow...
RICOH to Acquire IKON Office Solutions, Inc.
My Older Posts:
Excerpts From Espe
In an announcement today, Ricoh stated that they have "reached a diffenative statement to purchase IKON through it's wholly owned U.S. distribution subsidiary, Ricoh Americas Corporation."
"IKON has terrific strength in areas that complement RICOH's growth strategy," said Shiro Kondo, President and CEO of Ricoh Company, Ltd. "IKON has advanced Professional Services capabilities with a long list of satisfied large customers. IKON is respected as well for its production print sales and service expertise. We are excited to add the very experienced IKON management team and the thousands of skilled and dedicated IKON employees to the RICOH family."
IKON Chairman and Chief Executive Officer, Matthew J. Espe, said, "Following an extensive review of our strategic opportunities, our Board conducted a formal process to evaluate alternatives for the Company, and has approved this attractive transaction for our shareholders, customers and employees. The offer represents a 33% premium over IKON's trailing 60-day average stock price as of market close on August 26th. In addition, combining with RICOH, one of the world's most respected and innovative companies, will enable us to strengthen our offerings to customers and create new opportunities for our employees."
Espe concluded, "We remain fully committed to providing the highest quality of support and service to all our customers."
WOW! This is BIG.
33% premium? Try $1.6 billion! That's it. Was it a fire sale?
A missed opportunity for HP. A bargain price for huge channel for copiers and printers - 14 billion they spend on EDS.
So now, one question answered and oh so many more are asked.
What about ALL of the IKON Canon customers? Will it be a feeding frenzy as competitors start picking away at Canon, Kyocera and Konica Minolta installs?
My oh my...
"Ikon eliminated about 350 jobs in January to trim costs after first-quarter profit fell 45 percent. The company has also reduced executive bonuses as sales fell for 11 straight periods through the third quarter of 2007.
Canon Inc., the largest Japanese office equipment maker, has lost about 50 percent of its U.S. distribution network as the distributors have been bought by printer makers. Xerox Corp. bought Global Imaging Systems for $1.67 billion last May to expand its small- and mid-sized business sales. Konica Minolta Holdings Inc. bought London-based Danka's U.S. unit for $240 million in June.
``The biggest question is what Canon's response will be,'' said Cross. ``Does another bidder emerge?'' Canon spokeswoman Patricia Hall declined to comment.
Ikon, the largest U.S. distributor of Canon and Ricoh copiers, is being advised by Goldman, Sachs & Co., while Morgan Stanley is advising Ricoh." - Bloomberg
"Canon machines represent 60 percent of the products Ikon handles at the moment, with Ricoh machines accounting for 30 percent. But Ricoh aims to replace Canon products with its own printers and copiers in three to four years, Chief Financial Officer Zenji Miura said."
more to follow...
RICOH to Acquire IKON Office Solutions, Inc.
Ricoh in $1.6B deal for Ikon
My Older Posts:
Excerpts From Espe
I Know One Name - Canon
Should HP Purchase IKON's PS Division? - Delicious!!
IKON Introduces New Printer Line
Ricoh - A great, American Company? - Great ? yes, American? sorta...
Tuesday, August 26, 2008
‘Shopping spree' raises questions for county
When questioned, Skeans and Foust both admitted they "didn't know anything about it" and even went so far as to say they "never use a color copier."
What... did the Earth just go through the tail of a comet?
What is with all the "goofy" copier related stories? again, fact is funnier then fiction.
From the local news in the The Wabash Plain Dealer Online, an article by By SHEILA RHOADES-
"In a move that could be perceived as reckless government spending, the Wabash County Health Department has committed $13,725 in Homeland Security grant funds to more office equipment..."
It seems that the local health department down there had received some money from Homeland Security and "...only had one day to spend it...".
So of course, they went on a "shopping spree" - it's the American way.
And along this way, they seemed to have purchased a "...used photocopier machine..." for $9,000.00.
Huh?
"When questioned, Skeans and Foust both admitted they "didn't know anything about it" and even went so far as to say they "never use a color copier."
"Do you know what that costs for ink for that? And it would cost about 65 cents a copy," Commissioner Lester Templin said. "And you're not even going to use half of the things that are on there (copy machine). And it says on this paper that this is a 'repo unit'," he added."
OMG!
Seriously, this is funny.
What... did the Earth just go through the tail of a comet?
What is with all the "goofy" copier related stories? again, fact is funnier then fiction.
From the local news in the The Wabash Plain Dealer Online, an article by By SHEILA RHOADES-
"In a move that could be perceived as reckless government spending, the Wabash County Health Department has committed $13,725 in Homeland Security grant funds to more office equipment..."
It seems that the local health department down there had received some money from Homeland Security and "...only had one day to spend it...".
So of course, they went on a "shopping spree" - it's the American way.
And along this way, they seemed to have purchased a "...used photocopier machine..." for $9,000.00.
Huh?
"When questioned, Skeans and Foust both admitted they "didn't know anything about it" and even went so far as to say they "never use a color copier."
"Do you know what that costs for ink for that? And it would cost about 65 cents a copy," Commissioner Lester Templin said. "And you're not even going to use half of the things that are on there (copy machine). And it says on this paper that this is a 'repo unit'," he added."
OMG!
Seriously, this is funny.
"Beware of DLL, a business nightmare..."
Bad Leasing Story part Trios...or is it quatre It's gotta be bad if the very first line in the article is, "The following is a fictitious account of a business nightmare."
And it must be true if the names HAVE NOT BEEN changed, to protect the innocent.
This article from a paper in Philly, written by John F. McKenna an attorney with MacElree Harvey of West Chester, goes on to describe a bad experience with DLL.
"About DLL
Based in the Netherlands, DLL is a global provider of leasing, business and consumer finance solutions. They are listed as a Michigan corporation with United States headquarters in Wayne.
DLL never guarantees the performance of the equipment; it merely provides the financing. You are responsible for the payments regardless of the performance of the equipment, even if it never works."
I have a copy of their contract, and it is "standard" but is very one sided - as the article states :
"The standard contract states that you cannot have a jury trial. You further agree, that in the event of default, DLL can declare the entire balance of the unpaid lease payments for the full term immediately due and payable."
"payments for the full term immediately due and payable" - you gotta love that too.
His last two sentences sum up nicely,
"Sometimes you just have to take a risk when you lease equipment. Clarifying upfront what your duties and obligations are is always a good course of action."
I notice in the comments this guy takes some pretty good hits, but the overall information is valid.
Leasing is tough all over.
And it must be true if the names HAVE NOT BEEN changed, to protect the innocent.
This article from a paper in Philly, written by John F. McKenna an attorney with MacElree Harvey of West Chester, goes on to describe a bad experience with DLL.
Based in the Netherlands, DLL is a global provider of leasing, business and consumer finance solutions. They are listed as a Michigan corporation with United States headquarters in Wayne.
DLL never guarantees the performance of the equipment; it merely provides the financing. You are responsible for the payments regardless of the performance of the equipment, even if it never works."
I have a copy of their contract, and it is "standard" but is very one sided - as the article states :
"The standard contract states that you cannot have a jury trial. You further agree, that in the event of default, DLL can declare the entire balance of the unpaid lease payments for the full term immediately due and payable."
"payments for the full term immediately due and payable" - you gotta love that too.
His last two sentences sum up nicely,
"Sometimes you just have to take a risk when you lease equipment. Clarifying upfront what your duties and obligations are is always a good course of action."
I notice in the comments this guy takes some pretty good hits, but the overall information is valid.
Leasing is tough all over.
Bad Experiences with Leasing - Toshiba, IKON, Canon, Saxon
Again With The "Leasing"! Enough!
Citigroup Limits Meetings, Pares Color Photocopies
LOL!!! A little too little, a little too late...fact is funnier than fiction.
It seems that Citigroup has got to have one of the worst PR firms working for them.
I see a great deal of "Reductions In Field" in their future.
But if they are serious about reducing costs associated with printing, they should drop me a line.
Here is the article.
Citigroup cuts down on office waste
Posted Aug 26th 2008 5:20PM by Zac Bissonnette
Filed under: Citigroup Inc. (C)
"If you recently sent your CEO packing in the wake of $17.4 billion in writedowns, you need to do something to stop the outflow of cash.
For some that might mean eliminating the dividend or cutting back on out-sized executive pay. For Citigroup (NYSE: C), that apparently means cutting back on color copying and BlackBerry use.
The Associated Press reports that John Havens, the head of the company's institutional clients group, sent a note to employees admonishing them that "color copying and printing should only be used for client presentations," and "presentations should be printed double-sided to reduce unnecessary paper usage."
Of course the savings from measures like this are a pebble in the sand of hideously bad mortgage investments, but it's good to see that the company is clamping down on the waste of shareholder resources.
But doesn't it seem a bit, I don't know, hypocritical to be yelling at employees about wasting paper when the failed CEO left the company with a 9-digit parting gift?"
...I am still laughing...
It seems that Citigroup has got to have one of the worst PR firms working for them.
"...Under the new policy, employee meetings must be held within Citigroup offices and client events will require approval, the memo said. Color photocopiers will be removed from some locations and their use will be limited to client presentations. The memo didn't say how much money the new rules will save."
How in the world is "returning color photocopies" and "limiting color use to client presentations..." going to help in any way shape of form?
I see a great deal of "Reductions In Field" in their future.
But if they are serious about reducing costs associated with printing, they should drop me a line.
Here is the article.
Citigroup cuts down on office waste
Posted Aug 26th 2008 5:20PM by Zac Bissonnette
Filed under: Citigroup Inc. (C)
"If you recently sent your CEO packing in the wake of $17.4 billion in writedowns, you need to do something to stop the outflow of cash.
For some that might mean eliminating the dividend or cutting back on out-sized executive pay. For Citigroup (NYSE: C), that apparently means cutting back on color copying and BlackBerry use.
The Associated Press reports that John Havens, the head of the company's institutional clients group, sent a note to employees admonishing them that "color copying and printing should only be used for client presentations," and "presentations should be printed double-sided to reduce unnecessary paper usage."
That's right:
when you're pulling that stunt that involves sitting on the copier and printing 20 shots of your derriere, use the black and white machine, thank you very much.BlackBerry use will also be more closely monitored, and there will also be a cutback on outside management consultants and training, and functions held outside of the company's offices.
Of course the savings from measures like this are a pebble in the sand of hideously bad mortgage investments, but it's good to see that the company is clamping down on the waste of shareholder resources.
But doesn't it seem a bit, I don't know, hypocritical to be yelling at employees about wasting paper when the failed CEO left the company with a 9-digit parting gift?"
...I am still laughing...
Monday, August 25, 2008
The Death of the Copier Dealer - Rise of the "Hybrid"
Things ain't what they use to be...
I was reading Ed's post over at the Imaging Industry News site about "Hybrid Dealers".Ed states, "...No longer is it acceptable for the dealer to only provide the stellar technical insight of an IT VAR or Reseller, or conversely, only the stellar service and traditional click charge based financing options of the copier dealer.
Now the end-user expects the dealer to be able to provide the best of both worlds, the technical excellence of an IT reseller and the service excellence of a copier dealer..."
Ed and his group are right on with this observation - I see the need every day; I see the prospect changing too.
I would venture a guess that larger companies are experiencing this change and the need for a Hybrid Dealer or a Partner.
Your typical small company does not have an IT and Facilities staff - sometimes, one person will fill both requirements. And this is why most smaller companies have embraced the MFP and its full function.
On the "dealer" side, I have been in the presence of the owners of successful Copier Dealers - they do not see "MPS" as a major interest of their customers. Interesting. They see MPS programs as another "arrow in the quiver" - arrows to be shot at the prospect. (Another interesting metaphor/cliche.) In the same light as duplexing, color, or scan to file. Just another "add".
"Hybrid" - according to Dictionary.com, "... anything derived from heterogeneous sources, or composed of elements of different or incongruous kinds: a hybrid of the academic and business worlds..."
So, yes, I would agree that a VAR/Dealer/Reseller "composed of elements of different or incongruous kinds" is a reasonable, Darwinian, expectation. The result would be an entity that takes "the best of both worlds" - CPC and IT knowledge.
My question is, "Can today's dealer change on its own, or will the Hybrid be grown from the ground up?"
Time will tell - meanwhile, I need to take my computer to the nearest Inacomp, ComputerLand, MicroAge - oh wait...they all changed their name to Best Buy, didn't they?
Check these out:
Click to email me.
On the "dealer" side, I have been in the presence of the owners of successful Copier Dealers - they do not see "MPS" as a major interest of their customers. Interesting. They see MPS programs as another "arrow in the quiver" - arrows to be shot at the prospect. (Another interesting metaphor/cliche.) In the same light as duplexing, color, or scan to file. Just another "add".
"Hybrid" - according to Dictionary.com, "... anything derived from heterogeneous sources, or composed of elements of different or incongruous kinds: a hybrid of the academic and business worlds..."
So, yes, I would agree that a VAR/Dealer/Reseller "composed of elements of different or incongruous kinds" is a reasonable, Darwinian, expectation. The result would be an entity that takes "the best of both worlds" - CPC and IT knowledge.
My question is, "Can today's dealer change on its own, or will the Hybrid be grown from the ground up?"
Time will tell - meanwhile, I need to take my computer to the nearest Inacomp, ComputerLand, MicroAge - oh wait...they all changed their name to Best Buy, didn't they?
Check these out:
The Death of The Copier Dealer
The Death of The Copier Sales Person
Leading Edge and Bleeding Edge
Managed Print Services - Everybody Sells
Click to email me.
Saturday, August 23, 2008
New Report Delivers Definitive Analysis of the Managed Print Services Market
Managed Print Services - A New Study Released
An interesting announcement recently from a firm in Ireland. The report costs 16,000 Euros, but the summary announcement had a few tidbits and even a quote from our friends at The Photizo Group.
From the announcement, " ...we have ‘evolved’ to 2008 where there are a myriad of MPS offerings and services. The question now becomes what is meant when someone says MPS. The Photizo Group defines MPS as ‘outsourcing’ the hard and/or softcopy document management functions.
The key market dynamics have come together to help create the need for managed print services.
The key dynamics are:
-- Adoption of MFP technology – MFP’s have become ubiquitous in corporate America by bridging the gap between copier and printer technology. In addition, MPS-based products have become the on/off ramp enabler for new workflow applications which are the foundation of many potential business process optimization efforts.
-- Changing customers – Decision-making is being consolidated into a single organization, either IT or Facilities/Purchasing.
-- Shifting channels – IT and copier dealers are competing for the same customers and the result is declining margins. It is no longer feasible to be a ‘box pusher’ any longer, and as a result firms see offering MPS programs as a way to improve profitability and to capture market share. Customers now have a wide variety of options for implementing MPS programs, including utilizing local or national dealers or by utilizing a hardcopy vendors' direct MPS program..."
---
I like the "Shifting channels" comment and agree that box moving is becoming more undesirable - yet I do recognize there will ALWAYS be a place for "transactional" sales.
And customers always change. But, I am seeing the decision being made by BOTH Facilities and IT - in the same room, at the same time - opposed to Facilities handing off the decision completely to the technology group. This makes for an interesting dynamic.
Like this? Check this:
An interesting announcement recently from a firm in Ireland. The report costs 16,000 Euros, but the summary announcement had a few tidbits and even a quote from our friends at The Photizo Group.
From the announcement, " ...we have ‘evolved’ to 2008 where there are a myriad of MPS offerings and services. The question now becomes what is meant when someone says MPS. The Photizo Group defines MPS as ‘outsourcing’ the hard and/or softcopy document management functions.
The key market dynamics have come together to help create the need for managed print services.
The key dynamics are:
-- Adoption of MFP technology – MFP’s have become ubiquitous in corporate America by bridging the gap between copier and printer technology. In addition, MPS-based products have become the on/off ramp enabler for new workflow applications which are the foundation of many potential business process optimization efforts.
-- Changing customers – Decision-making is being consolidated into a single organization, either IT or Facilities/Purchasing.
-- Shifting channels – IT and copier dealers are competing for the same customers and the result is declining margins. It is no longer feasible to be a ‘box pusher’ any longer, and as a result firms see offering MPS programs as a way to improve profitability and to capture market share. Customers now have a wide variety of options for implementing MPS programs, including utilizing local or national dealers or by utilizing a hardcopy vendors' direct MPS program..."
---
I like the "Shifting channels" comment and agree that box moving is becoming more undesirable - yet I do recognize there will ALWAYS be a place for "transactional" sales.
And customers always change. But, I am seeing the decision being made by BOTH Facilities and IT - in the same room, at the same time - opposed to Facilities handing off the decision completely to the technology group. This makes for an interesting dynamic.
Like this? Check this:
I.T. and Facilities and Your Copier
HP Financial News - UP 11%
An excerpt from :
Revenue for the July quarter rose 10 percent to $28 billion in the quarter, while net income increased 20 percent to $2.5 billion, or $0.80 per share. Income and sales beat analyst forecasts.
Though revenue growth from its key printing division was slow -- up only 3 percent for the quarter -- and commercial printer sales were down 5 percent, sales for its software unit were up 29 percent. Software has traditionally been a weak spot for HP. A fast-growing software division combined with a strengthened services arm will only serve to reinforce HP's position as the largest tech vendor in the world.
Despite concerns about the U.S. downturn, however, the slowdown does not appear to be affecting the tech sector as badly as other areas of the economy. "The U.S.-led economic downturn shows no sign of causing a recession in IT spending," said Jim Tully, vice president at Gartner, in a forecast issued this week.
"Emerging regions, replacement of obsolete systems and some technology shifts are driving growth," Tully said.
----
Interesting, and relevant to what is being observed in the field.
Wall Street Beat: Salesforce, HP, M&A in the Spotlight
Marc Ferranti, IDG News Service
"...HP, which reported quarterly results Tuesday, continues to be a market darling. A speedbump in printing earnings and the prospects of absorbing services company EDS -- bound to be a complex undertaking -- does not seem to bother investors at all. HP shares jumped $2.47 to close at $46.16 Wednesday and continued to rise Thursday.
Revenue for the July quarter rose 10 percent to $28 billion in the quarter, while net income increased 20 percent to $2.5 billion, or $0.80 per share. Income and sales beat analyst forecasts.
Though revenue growth from its key printing division was slow -- up only 3 percent for the quarter -- and commercial printer sales were down 5 percent, sales for its software unit were up 29 percent. Software has traditionally been a weak spot for HP. A fast-growing software division combined with a strengthened services arm will only serve to reinforce HP's position as the largest tech vendor in the world.
Despite concerns about the U.S. downturn, however, the slowdown does not appear to be affecting the tech sector as badly as other areas of the economy. "The U.S.-led economic downturn shows no sign of causing a recession in IT spending," said Jim Tully, vice president at Gartner, in a forecast issued this week.
"Emerging regions, replacement of obsolete systems and some technology shifts are driving growth," Tully said.
----
Interesting, and relevant to what is being observed in the field.
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